Plans approved to extend intervention and PSA

Published 24 July 15

Proposals to extend intervention and PSA (private storage aid) for butter and skimmed milk powder have been approved by the European Commission.

The current PSA campaign will be extended until 29 February 2016.

The current intervention campaign will be extended 3 months to 31 December 2015, subject to approval by the European Parliament and Council. This allows for 50,000 tonnes of butter and 109,000 tonnes of SMP to be bought at set intervention prices of €2,217/tonne and €1,698/tonne respectively.

After the ceiling is reached, product can then only be offered into intervention through a tendering process rather than at the set prices.

A new intervention campaign will then open on 1 January 2016, with volume limits reset. The new campaign will run until 30 September 2016.